Fed's Powell Says Fed Has To Restore Price Stability As The Bedrock Of The Economy
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chairman Jerome Powell emphasized the importance of restoring price stability, considering it the foundation of a healthy economy. He indicated that the Fed is committed to controlling inflation and ensuring economic stability.
December 01, 2023 | 4:55 pm
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NEUTRAL IMPACT
Jerome Powell's comments on the Fed's dedication to price stability may influence investor confidence, potentially affecting the SPDR S&P 500 ETF Trust (SPY) as it reflects the broader market sentiment.
While Powell's comments are significant, they do not provide new directional information. However, they reinforce the Fed's stance on inflation, which can affect investor sentiment and thus the performance of market indices like SPY.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70